Recently asked questions relating to Sunbury On Thames leasehold conveyancing
I am in need of some leasehold conveyancing in Sunbury On Thames. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and most are in Sunbury On Thames - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Harry (my fiance) and I may need to rent out our Sunbury On Thames ground floor flat temporarily due to taking a sabbatical. We used a Sunbury On Thames conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Sunbury On Thames conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Sunbury On Thames. I need to get lease extension but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the freeholder. On the whole an enquiry agent would be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Sunbury On Thames.
I am employed by a reputable estate agent office in Sunbury On Thames where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Sunbury On Thames conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Do you have any top tips for leasehold conveyancing in Sunbury On Thames with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Sunbury On Thames can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers representatives.
- The majority freeholders or Management Companies in Sunbury On Thames levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Sunbury On Thames.
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Sunbury On Thames. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the sum to be paid.
An example of a Lease Extension decision for a Sunbury On Thames property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The the unexpired term as at the valuation date was 82.93 years.
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